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Development of indonesian building cost index
Wijiastuti D.a, Abduh M.a
a School of Civil and Environmental Engineering, Institut Teknologi Bandung, Indonesia
[vc_row][vc_column][vc_row_inner][vc_column_inner][vc_separator css=”.vc_custom_1624529070653{padding-top: 30px !important;padding-bottom: 30px !important;}”][/vc_column_inner][/vc_row_inner][vc_row_inner layout=”boxed”][vc_column_inner width=”3/4″ css=”.vc_custom_1624695412187{border-right-width: 1px !important;border-right-color: #dddddd !important;border-right-style: solid !important;border-radius: 1px !important;}”][vc_empty_space][megatron_heading title=”Abstract” size=”size-sm” text_align=”text-left”][vc_column_text]In the preliminary phase of a construction project, Indonesian cost engineers usually use inflation value or consumer price index in estimating the cost of a building based on the cost of similar buildings that were previously built. This technique seems to be a logic approach since in the preliminary stage of a construction project the cost estimation is not expected to be a very accurate one. Nevertheless, more accurate and proper estimation in a preliminary phase of construction project is needed as important information to the owner’s decision making process. Since the inflation or consumer price index reflects the average changes in prices of consumed goods and services over the time, the use of these indices for building cost estimation will lead to inaccurate and improper estimation. This paper discusses an effort to develop Indonesian building cost index that properly represents cost components of a building construction project in Indonesia that would be used as a tool in estimating the cost of a building based on the cost of similar buildings that were previously built. Several development issues are discussed, i.e., identification of goods or services that represent the components of buildings and the construction process, identification of dominant components, identification of weighted quantity of each dominant component, determination of indexing formula, and validation of the developed indices. Results of the analysis show a promising and yet demanding more efforts and contributions from other relevant parties that should be put into a synergic collaboration for the Indonesian building cost index to be useful. © 2006 by School of Engineering and Technology, Asian Institute of Technology.[/vc_column_text][vc_empty_space][vc_separator css=”.vc_custom_1624528584150{padding-top: 25px !important;padding-bottom: 25px !important;}”][vc_empty_space][megatron_heading title=”Author keywords” size=”size-sm” text_align=”text-left”][vc_column_text]Building construction projects,Building cost indices,Conceptual cost estimation,Construction process,Construction projects,Consumer price index,Cost indexes,Decision making process[/vc_column_text][vc_empty_space][vc_separator css=”.vc_custom_1624528584150{padding-top: 25px !important;padding-bottom: 25px !important;}”][vc_empty_space][megatron_heading title=”Indexed keywords” size=”size-sm” text_align=”text-left”][vc_column_text]Building,Conceptual cost estimation,Cost index,Preliminary stage[/vc_column_text][vc_empty_space][vc_separator css=”.vc_custom_1624528584150{padding-top: 25px !important;padding-bottom: 25px !important;}”][vc_empty_space][megatron_heading title=”Funding details” size=”size-sm” text_align=”text-left”][vc_column_text][/vc_column_text][vc_empty_space][vc_separator css=”.vc_custom_1624528584150{padding-top: 25px !important;padding-bottom: 25px !important;}”][vc_empty_space][megatron_heading title=”DOI” size=”size-sm” text_align=”text-left”][vc_column_text][/vc_column_text][/vc_column_inner][vc_column_inner width=”1/4″][vc_column_text]Widget Plumx[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row][vc_column][vc_separator css=”.vc_custom_1624528584150{padding-top: 25px !important;padding-bottom: 25px !important;}”][/vc_column][/vc_row]